Qualcomm Commences Tender Offer For NXP Semiconductors

(RTTNews) - Qualcomm Inc. (QCOM) said that its indirect wholly owned subsidiary Qualcomm River Holdings B.V has commenced the previously announced tender offer for all of the outstanding common shares of NXP Semiconductors N.V. (NXPI) at a price of $110.00 per share, less any applicable withholding taxes and without interest, to the holders thereof and payable in cash. The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP.

The tender offer will expire at 5:00 p.m., New York City time, on February 6, 2017, unless extended or earlier terminated, in each case pursuant to the terms of the Purchase Agreement.

The tender offer is not subject to any financing condition. The completion of the tender offer is conditioned upon, among other things, satisfaction of a minimum tender condition and the receipt of regulatory approvals in various jurisdictions.